Are Bitcoin Payments Coming To Uber Or Not?

The decentralization revolution is upon us, and multiple services are embracing the ideology of cutting out the middleman.  Some of these services are more popular than others, such as AirBnB Uber.  And the latter company is currently working on implementing a Bitcoin payment option, according a post on Reddit.

Uber Allegedly Working on Bitcoin Payments

One of the main reasons why Uber is loved by many – and hated by almost equally as many – people is because it provides a very simple service.  And that service is finding a ride from point A to point B, at the cheapest rate possible.  It should come as no surprise to you that Uber is facing quite a bit of backlash in various countries around the world.

It has to be said, though, that not all of this backlash is negative.   Granted, countries such as France are taking matters to a different level of backlash, which will not do the country any favours in the long run.  Areas such as London, England are looking at proper ways to regulate Uber driver growth, by forcing drivers to pass a test.

As is always the case when new technology comes around – and especially in such a spectacular and disruptive fashion – the general public is not too concerned about regulation.  Nor should they be, as these decentralized services are aimed at making life easier and more convenient for the everyday consumer.

In particular, Uber is making a lot of headway in that regard, as their platform virtually allows anyone to become their own “cab driver”. Register for an account, pick up a passenger near you, and you get paid as soon as they exit your vehicle.  And the best part is that there is no cash changing hands, making the driver less of a target for crime.

The way Uber works is by deducting the required amount from the customer’s credit or debit card directly.  As a driver, you won’t need to process the card yourself – therefore, not invest in additional hardware – and, as a customer, you won’t need to trust the driver with sensitive financial information.  In the end, it’s a win-win for all parties involved.

Decentralizing Payments with Bitcoin

In a recent post on Reddit, a screenshot of an email conversation between a Bitcoin enthusiast and an Uber representative was leaked.  It’s not the first time people have enquired about Uber integrating Bitcoin payments and, usually, there is no straight given answer, except this time, a representative has confirmed that Uber is currently working on Bitcoin integration as an alternative payment option, next to credit cards.

Assuming this report is true – which has not been officially confirmed by Uber at the time of publication – the company would take decentralization to a new level.  Not only will Uber decentralize car sharing, but it will use a decentralized currency as a payment method for this service.  Needless to say, Bitcoin users worldwide are very excited about this news, even though it has not been officially confirmed.


Denying The Bitcoin Claims

As soon as the news leaked regarding Uber working on Bitcoin payment integration, the company hastily retracted the statement and now denies its validity. Whether or not that is related to the difficult task of implementing Bitcoin payments with Uber’s automated checkout process is unknown at this time.  Other experts claims that Uber may have bitten off a bit more than they can chew by working on Bitcoin payments, as legislation could play an important factor as well.

We will continue to monitor the situation and update our readers accordingly.

Source: Imgur

Images courtesy of Uber and Shutterstock